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A conversation with Deep Rising filmmaker Matthieu Rytz about the promise and the peril of mining the ocean floor.

“To say, ‘Don’t harm the ocean’ — it is the easiest message in the world, right? You just have to show a photo of a turtle with a straw in its nose,” Michael Lodge, the secretary general of the U.N.’s International Seabed Authority, told The New York Times last year. “Everybody in Brooklyn can then say, ‘I don’t want to harm the ocean.’ But they sure want their Teslas.”
Canadian filmmaker Matthieu Rytz apparently didn’t get the memo. Deep Rising, his new documentary narrated by Jason Momoa, aims at one of the great contradictions of the energy transition: that deep-sea mining could provide a wealth of copper, nickel, and cobalt, the battery materials that are critically needed for EVs and clean-energy storage — and could also trigger ecological collapse in the fragile Pacific Ocean abyss.
At the center of this debate is the International Seabed Authority, a Jamaica-based U.N. organization tasked with the conflicting goals of protecting the ocean floor and writing regulations for the extraction of “polymetallic nodules.” The metal-rich nodules are sprinkled across an internationally governed part of the Pacific called the Clarion-Clipperton Zone, which starts about 500 miles south of Hawaii and by some measurements stretches roughly twice the size of India. By the estimate of The Metals Company, which has a multi-billion-dollar stake in an eventual mining operation, the supply of nodules would be enough to eventually power “280 million electric vehicles.”
At the same time, scientists — including a whistleblower from inside The Metals Company’s own exploratory team — have stressed that we know almost nothing about the deep ocean, least of all how a large-scale mining operation could impact everything from regional biodiversity to the potential extinction of undiscovered animals to ocean carbon sequestration. The nodules alone take millions of years to form.
On Monday, the International Seabed Authority kicked off a two-week-long meeting to discuss potentially issuing the first commercial mining permits. It’s already met staunch opposition: The United Kingdom just came out as the latest nation to demand a moratorium on deep-sea mining, joining calls for a total ban issued by France, Germany, New Zealand, and at least 13 other countries. (The U.S. is not a part of the International Seabed Authority because it was one of only four countries that declined to formally ratify the United Nations Convention on the Law of the Sea in 1984, thanks to Republican opposition. China, Norway, and Russia are the major proponents pushing for deep-sea mining to open up).
With this as our backdrop, I spoke to Rytz about the making of Deep Rising and the complexities of the deep-sea mining debate. Our conversation has been edited and condensed for clarity.
Tell me a little bit about how you discovered this story. As the narration points out, deep-sea mining is “out of sight and out of mind” for most people.
I discovered it in 2018 when I was finishing my previous film [Anote’s Ark], and working with the president of Kiribati in the middle of the Pacific. Because of the work I was doing, I had privileged access, since the president was the main character of my film. I started hearing the conversation about deep-sea mining when basically nothing was in the media; it was an absolute unknown story. It really intrigued me. I was like, Wow, this is a very interesting, complex story. I jumped on it and went on the long journey till now.
The U.N.’s International Seabed Authority begins a nearly two-week-long meeting this week that will potentially end with the issuing of the first provisional licenses for deep-sea mining. What has it been like to follow these developments while you’re in the final stages of releasing and promoting this film?
Once the mining code — if the mining code — is ratified, it will be extremely hard to change it. It’s not like in government when you have political football between two parties. Once the regulation is in place, it might take the same amount of time just to make an amendment because you need to get a consensus of all the U.N. members. So it’s a critical time now because they’re actually drafting it and if it passes, the text will define how deep-sea mining will go.
There’s still a chance, actually, to block it or to postpone it. There has been a big wave of countries signing a moratorium and there was very big news yesterday, from the U.K., which is supporting the moratorium. We’ve seen some smaller states sign it; France was a big one, but the U.K. is a significant gain in the movement for a moratorium.
But for me — and this is the story of Deep Rising as well — I’m like, well, okay, sure, let’s say deep-sea mining is stopped by a ban or a moratorium or simply because the mining code doesn’t happen. That doesn’t stop the need for nickel. And that, for me, is the biggest conversation, because if deep-sea mining doesn’t go ahead, it will mean way more pristine ecosystems are torn down in tropical rainforests — mainly in Indonesia, but also New Caledonia, the Philippines, Madagascar, a lot of places. In northern Russia, they’re mining nickel in the tundra and they’re releasing massive amounts of methane.
So for me, it’s not one or the other. Deep-sea mining is better because we’re going to save the rainforest is a fundamentally flawed argument. Because we don’t need nickel in the first place; there are solutions that are not based on finite resources. There’s battery chemistry that is based on iron-phosphate batteries. Green hydrogen is another very good example and a very good debate.
And, you know, we don’t need to buy that many private cars; we need to develop and share resources. When you see the climate bill from President Biden subsidizing every citizen to buy an EV, it’s basically subsidizing removing the pristine ecosystem in Indonesia. I don’t call that a climate plan.
I wanted to ask you about that. The script of Deep Rising can be pretty critical of the energy transition, calling it the “so-called green revolution.” Can you tell me a little about the use of that term, “so-called”?
This is exactly what I mean. You take the narrative of the “green revolution” from the official perspective — the president’s perspective or the industry’s perspective, from President Biden or Elon Musk. Let’s say they have the same narrative: Buy a Tesla and you’re going to save the planet. Because Tesla would not exist without subsidies; every taxpayer in the U.S. has spent massive amounts of money to make it happen. And I’m not against EVs, but it’s important to understand the climate has no boundaries. If you remove the ecosystem in Indonesia, you’re increasing the climate crisis in the U.S., and so on. You’re putting your citizens at risk. Every country is similar.
There’s no reason to go after finite resources like nickel. Again, if there was no solution, it’d maybe be like, “Oh, there’s a trade-off.” But the point is, at a very large, industrial scale, there are solutions to produce energy without extracting finite resources.
In the film, the narration states that “critical metals are not the solution; they are the new oil.” I’m convinced that there could be grave ecological consequences to deep-sea mining, but how do you reconcile that against the grave ecological consequences of the fossil fuels we’re extracting and burning now?
Again, it’s a matter of changing the chemistry of the batteries. If you take the composition of the Earth’s crust, nickel is 0.009%. Iron is 5%. Iron is everywhere. A company like BYD in China, they’ve been very successfully building for like five years now EVs that are as good as Tesla’s with no gram of nickel, no gram of cobalt. Iron and phosphate are widely available. Rivian, in the U.S., they’re also shifting. And that can happen — anytime soon, GM or Ford or Toyota could change their battery chemistry.
Wait — if this is something we have the technology for now, and it’s scaleable, why are mining companies spending all this time and money building deep-sea vacuum cleaners to suck up nodules to power batteries that we don’t even need to be using?
Because there’s a whole supply chain that’s already been built. And when you’re investing billions of dollars to build battery factories, you need to sell enough batteries to recoup your investment. The problem is we made the investment in the wrong direction.
The second problem is political. The EU could ban nickel in the battery and that’d be it. Then Volkswagen and Volvo and BMW and Renault, all the German and French carmakers, would have no choice. I don’t think it’s as easy in the U.S. but in the EU, that’s a move they could do. It’s happening: The U.K. did a moratorium [on deep-sea mining]. France did a total ban. And, of course, some will lose a lot of money, but it’s the right thing to do.
And the Chinese, by the way — most of the domestic market doesn’t use cobalt and nickel. They’re very advanced; the Blade technology from BYD is years ahead. But they’re not exporting that much because of the commercial war, basically.
On your website, you have a manifesto, which states that your aim as a filmmaker is to “ask uncomfortable questions instead of providing reassuring answers.” Can you talk a little about how that philosophy guided your approach to this film in particular?
My background is not in filmmaking; it’s in anthropology. I think because of my upbringing as an intellectual, I can see a system’s complexity. Filmmakers can sometimes cut straight to a conclusion and for me, it’s very challenging because I needed to simplify when making a film. I think I’ve oversimplified already; I see the film and I think “Oh, this is so oversimplified!” even when it’s a very complex film for most of the viewers.
I could have done a film that was just bashing the mining industry, showing how bad they are and how bad capitalists are destroying the planet. The problem with this is, you preach to the choir. The people you actually need to talk to, they will not listen.
Instead, I got invited to speak to the finance sector, the mining sector, a few weeks ago at a big conference in Geneva. Some of the biggest hedge funds and banks — a Swiss bank, a European bank, a Singaporean bank — they were all in the room. They were asking me for advice about if they should have deep-sea mining in their portfolio. We’re talking hundreds of millions of dollars. And I was like, “I can explain to you why you shouldn’t.”
The change is massive when you can tap into the higher side, the financial system, basically. For me, it’s a really interesting goal, because I take this approach so it’s like, “Oh, you’re not just bashing us and saying how bad we are. Let’s set aside our differences and sit down for coffee.”
I wanted to ask about the disagreement within the Pacific Islands communities. On the one hand, you show grassroots resistance to deep-sea mining in Papua New Guinea; on the other, you also show a delegate from Nauru (which sponsors a subsidiary of The Metals Company) pressuring the International Seabed Authority to make a quick decision on commercial licensing. Is the jury still out on deep-sea mining when it comes to regional community support?
There are two forces here. One is that no corporation can apply for a deep-sea mining license. The Metal Company cannot go to Jamaica and say, “I want to mine the deep ocean.” You need to find a country that will sponsor you. So the Metal Company can fly into Nauru, the smallest country in the world, and promise them the moon. Nauru is a very specific story with a long history of extraction with the Commonwealth, with Australia, New Zealand, and Canada. They’ve been mining phosphate since the Second World War. So this is a very specific case.
When it comes to other countries, like Kiribati and a lot of other island nations, they’re kind of under the Chinese now. And there’s a lot of paradox with China because again, the domestic market is very different than the exporting markets. They’re fueling the rest of the world with nickel, so they have six licenses [in the Clarion-Clipperton Zone] and they’re lobbying quite hard now to get deep-sea mining approved. But they own 60% of the nickel capacities globally and the U.S. has 0%. So for the Chinese, they’d still get all this nickel to basically keep the rest of the world dependent on them.
I have to ask about the cinematography, which is absolutely gorgeous. I think a lot of times deep sea animals don’t get the respect of more charismatic environmental icons like polar bears or whales because they look so alien and creepy. But the footage you included really gives this part of the world vibrance, life, and personality.
It came from years and years of digging through hard drives. A lot of the footage comes from scientific expeditions. It was a very long process for me to convince the researchers to give me the license to use their footage, too, because their first reaction was like, “No, it’s scientific material; that specific jellyfish, which is undiscovered, is under embargo.” Which means the scientists haven’t published their paper yet. And I was like, “Guys.”
Is there anything else you’d like our readers to know?
The concept of the common heritage of humankind is very important. It’s outlined in the Law of the Sea, a set of strong rules by the U.N., that the deep sea belongs to humanity. And every citizen of the planet has a shared responsibility to really look at what is happening because it’s the biggest land grab in human history. The mining area is the size of Mongolia. It’s enormous: I mean, imagine if Mongolia, which is an entire country, was mined entirely. It doesn’t make sense. We have a shared responsibility because we know the climate crisis doesn’t have boundaries. Everyone is concerned.
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The Federal Reserve raised the federal funds rate by a quarter point, the central bank announced Wednesday afternoon, its first rate change since Chairman Kevin Warsh took his seat in May and its first rate hike in over three years.
The federal funds rate will now sit between 3.75% and 4%. According to projections by regional Federal Reserve presidents and members of the Board of Governors, the central bank expects to hike rates one more time this year.
In its now characteristically brief statements, the Federal Open Market Committee said that the hike “will support a timelier return to the Committee's 2 percent goal” for inflation. Inflation is currently running at 3.4% and has been above the Fed’s 2% target since 2021.
The FOMC’s (brief) statement explaining the hike pointed to “resilient” domestic spending and “robust” capital investment. It characterized the economy as “expanding at a solid pace,” albeit with “elevated” uncertainty due to “geopolitical developments.”
This combination of factors — high oil prices due to the partial shutdown of the Strait of Hormuz and high investment in data centers — have helped push up yields on Treasury bonds, which helped maneuver the Federal Reserve into its rate hike. These rising Treasury yields have made raising capital more difficult for sectors besides artificial intelligence, very much including the capital-intensive renewable and clean energy industries.
Warsh attributed higher Treasury yields to “economic strength, competition for capital, and geopolitics,” in his press conference following the rate announcement. The yield on the 10-year treasury bond, often used as a benchmark for the cost of money throughout the economy, rose to over 5% on the news, the highest level since 2007.
Current conditions: The fast-moving Palos Fire blazed through 17 acres in Los Angeles’ La Habra Heights, injuring two • Heavy rain in São Paulo collapsed a dilapidated building, killing six • The heat index in the Mississippi Valley is topping 110 degrees Fahrenheit.
Two weeks after accusing data center opponents of wanting “to end up being backwards and poor,” President Donald Trump has landed on a new defense of the artificial intelligence buildout. It’s a lot like his old one for abdicating on the federal government’s responsibility to deal with climate-changing emissions. Essentially, it boils down to: My critics are making it all up. “It’s a hoax,” Trump told Nvidia CEO Jensen Huang during the five-minute call the executive put on speaker on stage at a conference Monday in Los Angeles. “The robots are not going to be taking over the world. That’s not going to happen.” He later posted on his Truth Social platform: “The AI Hoax being perpetrated by the Radical Left Dumocrats is reminiscent of their Global Warming Scam of not so long ago, where everyone was going to die from extreme heat. What happened? MAKE AMERICA GREAT AGAIN!!!” Three-quarters of Americans are now opposed to data centers in their backyards, according to Heatmap Pro’s poll from last month. But Trump has recently bucked with some populist positions on technology that have cross-partisan appeal. While law-and-order Republicans in red states are now turning against the Flock cameras that watch for petty crime, Trump defended the technology in a recent Air Force One chat with reporters. “Trump deserves more respect for his anti-slopulist instincts,” Peter Meijer, a former Republican member of Congress who voted to impeach Trump during his previous administration, wrote in a post on X.
Nvidia’s emissions, meanwhile, appear to be soaring. A new Greenpeace analysis of Nvidia’s own climate reports by the pro-renewables analyst Ketan Joshi found that emissions relating to the supply chain for chip manufacturing soared by 725% since 2020, adding nearly 10 million metric tons of carbon dioxide to the atmosphere.

You wouldn’t believe some of the conditions I have heard placed on owners of hydroelectric dams seeking to relicense major clean power projects. There are obvious demands from regulators for things like new infrastructure to help migrating fish pass down a river. Then there are the less obvious, such as building an amphitheater for Boy Scouts or paving new roads far from a dam or its water source. In what the trade group called a first-of-its-kind analysis, the National Hydropower Association reviewed more than 5,000 mandatory conditions across 4,819 licensing documents filed between 1980 and 2026 in 46 states. Dam owners would need to agree to the legally binding requirements, imposed by either state or federal agencies, before a final operating license could be issued. Compared to earlier licenses, hydropower plants today “carry roughly 10 times as many mandatory conditions,” the trade association wrote in its report. “To make matters worse, many conditions are unrelated to energy production and are essentially ‘wish list’ items that hydropower producers are asked to fund, ranging from road construction unrelated to the projects to building fish passage far beyond where the fish actually are (or even could be),” the organization said. Over the next decade, 348 hydropower permits representing 12 gigawatts of capacity are due for relicensing. Many of those facilities are small, and the trend recently has been for companies to simply surrender their licenses and close up shop rather than make costly renovations.
“I urge anyone who cares about reliable, affordable power to read this groundbreaking study,” Malcolm Woolf, NHA’s top executive, said in a statement. “Hydropower, a superhero of the grid and an American icon of energy production, is at great risk due to a broken regulatory framework. Relicensing an existing hydropower facility often takes decades and costs millions of dollars. If these facilities go away, so does the affordable power they produce, the good jobs they create, and the critical infrastructure and ecosystem care they provide.”
Back in May, I told you that South Korea — arguably the most competent builder of atomic power reactors in the democratic world — was “coming to America’s nuclear rescue.” Last week, we discussed the possibility of Seoul’s state-owned nuclear company building reactors in the U.S. as part of a trade pact with the Trump administration. Now we have a clearer picture of where those negotiations may be going. On Tuesday, The Korea Economic Daily reported that South Korea is seeking a roughly 15% stake in Westinghouse, the maker of America’s flagship nuclear reactor, and a seat on its board as part of any deal with Washington. The move, the newspaper noted, is designed to “turn a U.S. request for Korean capital into a strategic foothold in America’s nuclear buildouts.” Ownership by one of America’s closest East Asian allies would be nothing new for Westinghouse, which was owned in the mid 2000s by the Japanese industrial giant Toshiba. Today Westinghouse is a privately held joint venture between the publicly traded investment behemoth Brookfield Asset Management and the Canadian uranium miner Cameco, but the company filed confidential paperwork to the Securities and Exchange Commission in July as a first step toward going public on the stock market.
The market only appears to be expanding. Global nuclear capacity could more than triple by 2060, according to this week’s latest forecast from the International Atomic Energy Agency, the United Nations affiliate that oversees nuclear technologies worldwide.
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Spend a few minutes scrolling through a comedy fan’s TikTok stream and you’ll find skits playing to the same memetic trope, an anthropomorphized caricature of an incompetent, mistake-prone AI agent guzzling and spilling lots of water. It’s no wonder the joke has already become hack. More than three-quarters of Americans are at least somewhat concerned about the environmental impact of AI, and half are extremely or very concerned, according to data from the latest annual poll from the University of Chicago’s Energy Policy Institute and the AP-NORC Center for Public Affairs Research. In every case, self-identified Democrats are more concerned about environmental issues than Republicans. While 40% of Democrats expressed concern over the environmental impacts of cryptocurrency, just 18% of Republicans said the same. With meat, the ration is 42% to 21%. With air travel, it's Democrats at 38% and Republicans at 17%. But interests converge slightly more on data centers, with 65% of Democrats and 42% Republicans extremely or very concerned about the environmental impacts of AI.
In theory, the late 20th century liberalization of America’s electricity markets should have put a premium on transmission companies building new arteries in the system. In practice, the high cost and grave risk of taking on dozens, sometimes droves, of landowners for right of way to build a power line that stretches hundreds of miles across multiple regional grids makes the task almost impossible, particularly in markets where a power company can’t offset the cost of new lines with other sources of revenue such as generation or power sales. A new report by the Center for Public Enterprise has concluded that “only the federal government can intervene to sew together this national macrogrid by bridging the jurisdictional divides between utilities and regions, instituting planning pipelines with access to finance and cost recovery, and fixing interconnection procedures.” As of yet, that looks unlikely beyond the increased focus on regional planning under the Federal Energy Regulatory Commission’s Order 1920. The rule is facing legal challenges that aren’t expected to be resolved until next year, according to Ari Peskoe, director of Harvard Law School’s Electricity Law Initiative.
When I visited Commonwealth Fusion Systems’ headquarters in Massachusetts earlier this summer, I saw how much progress the company had made toward building what could be the world’s first power-producing fusion reactor, called SPARC. To work, the interior of the torus-shaped, doughnut-like reactor needs to be very cold so magnets can pick up on the contrast in temperatures with the extremely hot plasma fusing together. That’s where the cryogenics come in. The facility’s cryogenics equipment is now up and running, the company said on Wednesday, marking yet another milestone toward next year’s anticipated start up. “That temperature, a few degrees above absolute zero, is what’ll enable our magnets to bottle up a superhot cloud of charged particles called a plasma so fusion can occur,” Adam Weiner, the director of cryogenics at Commonwealth Fusion Systems, said in a statement.
Rob talks with climate and data expert Hannah Ritchie about her new platform, U.S. Energy Data.
America has some of the world’s best data about its own internal energy, industrial economy, and carbon emissions. That’s thanks to a federal agency called the U.S. Energy Information Administration, which painstakingly collects and updates the data every week.
But EIA data can be hard to access — and even harder to share and understand. A new project aims to change that. U.S. Energy Data takes federal energy data and repackages it, helping amateurs and experts understand the power grid, liquid fuels, and more. It is now the easiest way to make and share charts with federal energy data.
On this episode of Shift Key, Rob is joined by Hannah Ritchie, a data scientist and writer who advised and prototyped US Energy Data. She is also the author of Not the End of the World and Clearing the Air, as well as a senior researcher at the University of Oxford and the deputy editor at Our World in Data. Rob and Hannah discuss how the platform came together, what makes it such a valuable resource, and what we can learn from it about the state of the energy transition.
Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap News.
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Here is an excerpt from their conversation:
Robinson Meyer: One thing that I so appreciate about your work, incluidng two books about climate change and Our World in Data, is that it is grounded, as it says in the title, in data. And that means that unlike those of us who are maybe in the news cycle every day and following the vagaries of policy moving one way and then moving the other way, having a framework through which to understand the world, I think a data-driven framework especially, means that you can update more slowly. And at least when you update your worldview, it’s grounded in a change which is surprising you or important, or that’s standing out, you know, in the real world, and not just in the kind of discursive or political world that we tend to cover.
At the risk of asking a very large question, how are you feeling about global decarbonization at the moment? As someone who works in the data, who looks at the data, what do you think hasn’t been noticed at the moment? I have a candidate here, but I’m curious what you think as well.
Hannah Ritchie: I think that in terms of global decarbonization, I’m still pretty optimistic. And I think one of the key distinctions there, I think when it comes to these discussions, we do naturally focus on the U.S.. And I think decarbonization in the U.S. has gone slowly, and too slowly, and has faced setbacks. And I think there is the temptation to extrapolate that view and say, well, the world is not doing well on decarbonization. And I don’t think that’s correct. I think, to not be too much of a centrist on this, we’re not going as fast as I would like, or what we frame as what we should need to be. But I do actually think that things are moving pretty quickly and accelerating in other parts of the world.
And I think the challenge there is, I think people are not saying that, yes, China is moving very quickly on this. But a key point there is, if you look at other countries, low- and middle-income countries across Latin America or Sub-Saharan Africa or Asia, many of those countries are also moving fast. And I think that’s underappreciated. And I think they’re moving fast because the energy transition and electrification and decarbonization just increasingly makes economic sense to do so.
So I guess the trade-off between increasing energy services for people — for which, in many low- and middle-income countries, that’s just a core part of development. And a key priority is no longer incompatible with also doing that in a relatively low-carbon way, and I think that’s a really key, underappreciated point, and you start to see that in these annual updates of what happened in the last year, and I think you miss it if you’re only looking at, you know, the headline from yesterday and the headline from today.
You can find a full transcript of the episode here.
Mentioned:
Previously on Shift Key: Daniel Palken of Arnold Ventures joined us to discuss permitting reform
This episode of Shift Key is sponsored by …
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Music for Shift Key is by Adam Kromelow.